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The best way to begin paying off debt is to meet with a financial adviser who can assist someone with setting up a payment plan. Using income and regular monthly expenses, the adviser will assist people with figuring out how much they can actually afford to pay back.

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12y ago

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What are some ways to manage my debt?

Some tips to manage your debt and start saving money include stop using credit cards. You should also start paying higher payments on credit cards.


What do you need to consider if you want to consolidate your debt?

The one thing you need to consider regarding debt consolidation is whether or not you can aggressively start paying off your debt via debt consolidation. Remember, debt consolidation doesn't reduce your debt; it just helps it be more manageable. So, you need to analyze your finances to see if you can truly start paying off your debt. See where you can cut back on your expenses. You're going to have to make some personal sacrifices if you want to get out of debt. If even after you analyze your finances and you just can't seem to set aside enough each month to significantly pay down your debt, debt consolidation might not be the solution for you. In this case, you're going to want to consult a debt counselor.


What kinds of financial debt solutions are available?

Many different types and kids of financial debt solutions are available. Some of these solutions include taking out a loan or paying off your debt and bills.


What is a repayment assistance plan?

Under Canadian law, a repayment assistance plan involves the government partially paying an individual's student loan debt. The first stage consists of the student paying as much as they can reasonably afford, which goes directly toward paying down the principal debt. The government covers the interest costs. If this does not end the debt, the individual may proceed to Stage Two, in which the government continues to assist, possibly paying some or all of the principal debt in addition to the interest.


What does contractually liable debt mean?

It means that under the terms of some contract the party is responsible for paying debts.


What are some easy and quick ways to erase a bad debt loan?

There are five main steps to clearing bad debt loan. These steps include find out how much is really owed, cut back expenses, create a payment schedule, start paying off your loans, and think about consolidating.


How can you get assistance from your school to pay off debt from student loans?

There are many ways to pay off the debt from student loans. Unfortuneately, I am unaware of any ways for you to get help from your school in paying off these loans. There are some websites that can help you with paying off your student loans.


Who is responsible for the debt if the deceased holder had allowed someone else to use her credit card?

In most cases the card holder has the sole responsibility of the debt. Some companies may try to "bully" authorized users into paying some, if not all of the debt. The "user" of the card has no legal obligation to repay the debt/charges.


Which companies offer a business debt loan?

There are several companies that offer a business debt loan. Some of these include: The Working Bank, RBC Royal Bank, My Debt Solution, and Quarterspot


What is a simple method to get out of credit card debt?

There are several methods for getting out of credit card debt. There are many companies that can contact your creditors and help consolidate your payments, even convincing your creditors to forgive some of the debt! This is a great method, but will ruin your credit score. Another method of getting out of credit card debt is to slowly and responsibly work toward paying down the debt and building your savings. Dave Ramsey of The Tightwad Gazette has great guidelines for paying down debt and building savings.


What are some ways to clean up a credit score?

Some ways to clean up a credit score is to start paying bills on time, reduce credit card debt, and open a bank account. Those are the best ways to clean up a credit card score.


What does the debt consolidation of Canada look like?

Debt consolidation in Canada is much the same as it would be in the US. Many banks offer debt consolidation loans to persons wishing to get some relief with paying their debts. There are also company's that specialize in debt consolidation that someone could use as a resource.